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Borrowing case: the bank is in the exercise of rights, the guarantor is exempted

Time: 2014-08-05         Source: New law report         Author: New Legal News

Time limit for litigation for loan recovery


 Case

On September 2, 2008, Zeng Sheng signed a "short-term loan contract" with a bank in Taihe County. The contract stipulated that Zeng Sheng borrowed 30,000 yuan from the bank, the monthly interest rate was 8.40375, and the loan period was two months. On the same day, the defendant Xiao Yuan signed the "Importance Letter of Intent" and volunteered as the guarantor of the above-mentioned loan, and assumed joint and several liability for the loan principal and interest and other related expenses stipulated by law.

After the contract was signed, a bank in Taihe County issued a loan of 30,000 yuan to Zeng Sheng. After the loan was due, Zeng Sheng only returned the principal of 5,000 yuan and part of the interest, and the interest was settled until April 1, 2012. The bank repeatedly collected loans from Zeng Sheng, but Zeng Sheng has not returned the remaining principal of 25,000 yuan and the corresponding interest. Therefore, the bank sued the court and demanded that Zeng Sheng repay the principal of the loan of 25,000 yuan and the corresponding interest; Xiao Yuan Undertake joint and several liability. (The characters in the text are all pseudonyms)

  settle a lawsuit

The court held that the relationship between the loan contract and the guarantee contract between a bank in Taihe County and Zeng Sheng and Xiao Yuan was legally valid. The bank required the defendant to repay the principal of the loan of 25,000 yuan and the corresponding interest. The evidence of the loan contract, loan certificate and reminder notice submitted can be confirmed and should be supported. Xiao Yuan signed the "Importance Letter of Intent", indicating that he voluntarily assumed joint liability for the loan of the defendant Zeng Sheng. This does not violate the law and should bear the corresponding guarantee responsibility. Since the guarantee period does not stipulate the guarantee period, according to the law, the plaintiff of the creditor, Taihe County, has the right to ask the guarantor to assume the guarantee responsibility within 6 months from the expiration of the self-debt performance period. The maturity date of the loan in this case is November 1, 2008. The bank shall require the guarantor Xiao Yuan to assume the guarantee responsibility before May 1, 2009. The bank has not required the guarantor to assume the guarantee responsibility within this time, so the guarantor is exempt from the guarantee responsibility. Therefore, the bank asked the defendant Xiao Yuan to bear the claim for joint liability, and the evidence submitted could not be confirmed and will not be supported.

 

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